Laurie family end 171-year tenure at Nowendoc farm, Riamukka

After seven generations and more than 170 years with one family, a tightly held New England grazing property has been sold for millions. See the details.

A historic and tightly held NSW farm, which was owned by the one family for seven generations, has changed hands for the first time in more than 170 years.

Owned by the Laurie family since 1852, Riamukka, a 1030ha grazing property about 12km north of Nowendoc in NSW’s New England region, has been sold in a deal negotiated post-auction.

At the Tamworth Community Centre on Thursday, the property was initially passed in on a vendor bid of $14 million.

Then in a deal negotiated post-auction, the property was sold for an undisclosed sum to a private buyer.

It is understood a NSW family company with existing agricultural interests has purchased the property.

The Laurie family’s Riamukka was sold after a post-auction negotiation.

The deal was negotiated by Davidson Cameron and Co selling agent Simon Burke who said Riamukka had generated interest from local buyers as well as graziers from elsewhere in NSW and Queensland.

Mr Burke said there were multiple bids from the floor and online during the auction, before the property was passed in.

He said there was about 10 to 12 inspections on the property mostly from buyers looking to expand their existing holdings.

Vendor and seventh generation farmer Alex Laurie was running 250 cows and calves at the property, as well as trading 1200 cattle to feedlots and into the supermarket trade.

Mr Laurie also estimated as a cow and calf property, Riamukka could comfortably carry 700 cows and calves.

The Laurie family had owned their Nowendoc farm, Riamukka for seven generations across 171 years.

When the property was listed for sale it was expected to field offers worth $15 million-plus.

Prior to the Laurie family, Riamukka was owned by the Australian Agricultural Company, at a time when Australia’s current biggest pastoral group owned a significant amount of farmland at Nowendoc and in the New England region.

Brothers Joseph and Thomas Laurie purchased Riamukka in 1852, with members of the Laurie family working for AACo since 1842.

In the past 170 years the Laurie family developed Riamukka into a first-class breeding and fattening property.

There are 708ha established as permanent pastures with about 88ha to be sown down to new pastures across 18 paddocks.

Earlier this July London-based Lord Michael Hintze, via MH Premium Farms, sold his expansive livestock property, Warrane, located 18km northwest of Armidale in NSW in a major deal with Australian energy retailer, Origin Energy.